On Tuesday afternoon, the Topeka Development Corporation officially retained ownership of Hotel Topeka at City Center. The hotel was purchased for just over $7.6 million.
The hotel remains open for business, and all services are expected to continue as normal.
The Topeka Development Corporation was formed mid-October to take ownership of the hotel, obtain the necessary licenses and insurance, and to contract with a management company to oversee day to day hotel operations.
The corporation has contracted with GF Hotels & Resorts to operate the hotel. GF Hotels & Resorts currently operates the hotel, which allows for continuity of hotel operations.
In recent weeks, the corporation awarded contracts to an asset manager and for a facilities assessment. The asset manager is helping the corporation identify an appropriate brand for the hotel, and will work to identify and help select a long-term private operator. The facilities assessment is underway and ongoing.
“We are excited about the purchase being finalized, and steadfast in our desire to see the hotel re-developed and eventually brought back to private ownership,” said Topeka Mayor Michael Padilla, who also serves as president of the corporation’s board of directors. “In the coming months, the corporation, board of directors, and staff will be working closely with our asset manager and partners to develop a long-term plan for the hotel so that it can be a staple in our community for many years to come.”
To read more about the Topeka Development Corporation, visit www.topekadevelopmentcorporation.com.